The Competition Commission of India (CCI) has approved the $385 million deal that entails sale of Ten Sports to Sony Pictures announced last August. The approval was tweeted by the watchdog recently.
The deal was announced by Zee Entertainment Enterprises Ltd. on August 31 in a regulatory filing to the BSE. It was an all-cash deal.
On Thursday, ZEEL shares closed at Rs. 476.50 apiece, 1.13 percent down from their previous close, on the BSE.
ZEEL had originally bought the stake in Ten Sports from Dubai-based Abdul Rahman Bukhatir's Taj Group for about $107 million between 2006 and 2011.
.@CCI_India approves acquisition of Sports Broadcasting business of Ten Sports by Sony Pictures Networks India Private Limited
— CCI (@CCI_India) January 18, 2017
